Another lesson: Make sure you have fertile crony connections in the government to ensure you get bailed out with taxpayer monies when tragedy strikes. Oh, and ensure you get them through the back door to make it less obvious.

4:31 pm May 5, 2013

R Wood wrote:

Me to BofA: "I'm thinking about investing $200 in BofA. What will you do for me?"
BofA to me: -no answer

Buffett to BofA: "I'm thinking about investing $200,000,000 in BofA. What will you do for me?"
BofA to Buffett: "Absolutely anything you want without hesitation!"

If you have enough money, you don't play the market. You make it.

4:37 pm May 5, 2013

Dave wrote:

"Doubt yourself..."

So why does he have so much confidence in Obama? Obama has no doubts about himself.

4:53 pm May 5, 2013

Linc M wrote:

Too bad, Kass couldn't be honest. His sole reason for shorting Berkshire is the end demise of Buffet. Come on folks shorting stock especially for the Kass's and Einhorn's is the hope someone or something comes up negative. If it doesn't come up then create it. Einhorn gets on the news and all of a sudden a company's share price declines because he says so. Yeah right!

Now I am not saying kass is wrong with his assumption, but he should be honest to why he is shorting. Berkshire is turning into a mini S&P 500 and will go as the market flows. Kass has no reason shorting Berkshire other than Warren's retirement or death. On anyone of those events, the stock will decline.

That being said, anyone who doesn't believe Buffet is in it for Buffet, then I have a bridge for sale. Yes he is smart and has access to a pile of information the average investor doesn't, but Warren Buffet doesn't invest unless there is a dime to be made.

5:12 pm May 5, 2013

Thomas J. Lucier, Serial Entrepreneur wrote:

Warren Buffett is a greedy, self-absorbed anal polyp, and those are his good points! Curious minds want to know, did the members of the lamestream media, who attended this annual SUCKFEST, bring their knee pads, or did Jerkshire Halfaday provide them?

5:18 pm May 5, 2013

?Crony wrote:

I have no financial interest in Buffett. I don't believe a buy and hold strategy that Buffett uses ties in to crony capitalism. (Unless it is a 3rd World Country and you are able to buy a state owned company on the cheap. I'm tired of people whining about crony capitalism. It has been around forever. Someone always has a better deal than you be it skin color, gender or connections. Deal with the hand you were give.

5:25 pm May 5, 2013

James wrote:

His advice about opposing points of view are essential to success and human evolution.

This is exactly the problem with many topical issues of today, e.g. gun control, immigration reform. Shouting and damnation is a useless waste of energy. It reveals an inferior mind unable to create and inability to communicate.

Otherwise, cool down and get back to the table.

5:27 pm May 5, 2013

JPL wrote:

Criticizing CEOs for pre-recording the prepared comments is
hard for me to understand. These folks are not professional
announcers, and a slip of the tongue could induce wild gyrations
in after-hours trading, and waste precious minutes of the Q&A
clearing up the misunderstanding.

5:27 pm May 5, 2013

James Billings wrote:

His advice about opposing points of view are essential to success and human evolution.

This is exactly the problem with many topical issues of today, e.g. gun control, immigration reform. Shouting and damnation is a useless waste of energy. It reveals an inferior mind unable to create and inability to communicate.

If you want results, cool down and get back to the table.

5:57 pm May 5, 2013

Mufasa wrote:

oooooooh, what a genius. Doubt yourself and listen to dissenting opinions! Wow, who would have ever thought of that. Let me give Buffet some better advice; "Any man who can drive safely while kissing a pretty girl is simply not giving the kiss the attention it deserves." A.E.

6:03 pm May 5, 2013

TJ wrote:

BRK will be broken up within 3 years after Buffett dies. It has become an unwieldy conglomerate only held together by the force of his personality. The likelihood that his successor can keep it together is very slim. So for investors, the question is whether the parts are worth more than the whole. I don't know the answer, but I wonder what the balance sheets of Lubrizol or BN would look like without the backing of the BRK insurance empire.

6:21 pm May 5, 2013

Crony Captialism at its finest. wrote:

As the paper form Yale shows clearly, Buffett's entire Alpha is due to preferential leverage due to control of GEICO.
The man has profited from a cozy relationship with government, and will never pay the taxes he wants to heap on the rest of us.

6:57 pm May 5, 2013

rupert gradski wrote:

While I own shares in about 20 corporations, I never go to meetings or vote in Board elections. By way of disclosure my portfolio is relatively peanuts. I figured, if the corporation really wanted me to vote, it wold pay me for it ( maybe not a lot; how about 1$ per share?). Otherwise, its all baloney.

7:20 pm May 5, 2013

Carol wrote:

We should all be doubting ourselves. It is quite possible we are on the wrong track, collectively.

7:25 pm May 5, 2013

Juan wrote:

Exactly! The Government Employee Insurance Co. The man on top of the pyramid of soldiers.

7:52 pm May 5, 2013

Ben the Money Printer wrote:

Doubt. Me. No way.

Tomorrow I print 4 more billions.

8:02 pm May 5, 2013

Mel wrote:

GEICO is not a government owned or controlled company. Someone (probably Leo Goodwin) thought it a good idea to write Auto insurance for government employees on a direct basis cutting out the middle man. While working for Ben Graham, Warren was sent down to research the company which I believe Graham's partnership had an investment in.

9:17 am May 6, 2013

Shermineh wrote:

Mr. Buffett is “self-confident, but he’s not afraid of a challenge,” Mr. Kass told me last week. “I believe he enjoys challenges.” - This statement perfectly describes the importance for one not to get in over their head with hype others shower you with.

5:39 pm May 31, 2013

Crystal balls wrote:

Doubt yourself. Got it. Doubt those who doubt you. Got it. Now, how do I know who's crystal ball is going to predict the future? When someone's crystal ball is shattered buy a future reality, who was the person who doubted it best?

Doubt everything. Doubt everybody. Now, how do I (or how does anyone, for that matter) decide who's right and what do do?

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